Currencies exchange rates
Using Forex Signals To Navigate The Currencies exchange rates
There are dozens of world currencies being traded around the clock on the foreign currencies exchange rates, and no one can possibly monitor them all at once. That is why many traders rely on forex signals to keep them apprised of movement in the market.
Many brokers and other forex-related businesses offer forex signals to subscribers. Forex signals are simply recommendations to buy or sell based on mathematical algorithms and professional know-how. Usually these signals include specific entry, stop and target levels. They might say something like, in essence, “Right now the EUR/USD bid is at 1.2529 and dropping. When it gets to 1.2465, sell.”
Forex signal providers usually charge for their service, sometimes as much as $100 a month. For this the subscriber gets 1-5 signals a day, sent via e-mail, text message or instant messenger. The trader is under no obligation to do anything with the information, of course. They are advisory in nature, and the trader is free to ignore them entirely if he wants to. But most traders generally go along with the advice that comes to them through forex signals. They wouldn’t pay for the service if they didn’t find the advice useful.
There are two schools of thought about forex signals. One says that you’re a sucker if you pay for them, with the reasoning that if the people behind them are so good at playing the market, why do they have to sell signals to make a living? The opposing point of view says that since signals require analysis and experience to create, why shouldn’t the people who distribute them get paid for their efforts?
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But mostly traders are speculating against $$s2007-11-26 13:29:11 by dylanman
Perhaps the $ selloff is overdone now, who knows. I thought this news bit was interesting. Yen carry traders who have been phreaakked by the pittance of a rate increase by the bank of japan, have been switching over. A good short term call it's proven to be, but I'm skeptical and have a bearish view of the yen.
excerpt from article below:
Dollar Displaces Yen, Franc as Favorite for Funding Carry Trade
By Bo Nielsen
Nov. 26 (Bloomberg) -- Using the dollar to pay for purchases of currencies with higher yields is proving to be the most profitable trade in the foreign-exchange market.
A basket of currencies including the British
pound, Brazilian real and Hungarian forint financed with dollars returned 17 percent this year, compared with 9 percent when...
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